Mechanics Savings Bank in Hartford, Connecticut (CT)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 23, 2000

  • Mechanics Savings Bank in Hartford, Connecticut (CT)
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Mechanics Savings Bank - Overview

  • General
  • FDIC Certificate #: 17941
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Webster Bank, National Association (#18221)
    Federal Reserve ID: 810106
    Date Established: July 01, 1861
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 16 (Interstate: No)
    OTS Docket #: 6611
    FDIC's unique #: 11875
    Numeric code: 41
    Regulator: FDIC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    State Chartered: Yes
    Date of Deposit Insurance: January 02, 1959
    Last Structure Change Effective Date: June 23, 2000
    Last Structure Change Process Date: July 28, 2000
    Last Data Update: July 28, 2000
    Data Source Date: April 05, 2012
  • Location
  • Address: 100 Pearl Street, Hartford, CT 6103
    County: Hartford
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Hartford
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Hartford, CT (#3280)
    Combined Statistical Area (CSA): Hartford-West Hartford-Willimantic, CT (#278)
    Core Based Statistical Area (CBSA): Hartford-West Hartford-East Hartford, CT (#25540)
    CBSA Metro Statistical Area: Hartford-West Hartford-East Hartford, CT (#25540)
  • Financial Summary
  • Total assets: $1,100.3 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 1999)

  • Dollar figures in thousands
  • 240Total employees (full-time equivalent)
  • $1,119,589Total assets
  • $29,451Cash and due from depository institutions
  • $0Interest-bearing balances
  • $313,534Securities
  • $690Federal funds sold & reverse repurchase agreements
  • $741,785Net loans & leases
  • $11,035Loan loss allowance
  • $0Trading account assets
  • $3,880Bank premises and fixed assets
  • $298Other real estate owned
  • $706Goodwill and other intangibles
  • $0Life insurance assets
  • $29,245All other assets
  • $1,119,589Total liabilities and capital
  • $1,026,475Total liabilities
  • $645,158Total deposits
  • $553,982Interest-bearing deposits
  • $645,158Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $19,000Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $357,985Other borrowed funds
  • $0Subordinated debt
  • $4,332All other liabilities
  • $93,114Total equity capital
  • $93,114Total bank equity capital
  • $93,114Perpetual preferred stock
  • $0Common stock
  • $53Surplus
  • $51,927Undivided profits
  • Memoranda
  • $41,134Noncurrent loans and leases
  • $64,974Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $1,992Earning assets
  • $0Long-term assets (5+ years)
  • $3,296Average Assets, year-to-date
  • $1,056,009Average Assets, quarterly
  • $582,134Volatile liabilities
  • $1,083,157Insider loans
  • $1,108,010FHLB advances
  • $246,664Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $64,974Total unused commitments
  • $0Restructured Loans and leases
  • $8,654Derivatives

Income and Expense (December 31, 1999)

  • Dollar figures in thousands
  • $74,029Total interest income
  • $37,800Total interest expense
  • $36,229Net interest income
  • $0Provision for loan and lease losses
  • $9,893Total noninterest income
  • $0Fiduciary activities
  • $2,796Service charges on deposit accounts
  • $0Trading account gains & fees
  • $7,097Additional noninterest income
  • $24,152Total noninterest expense
  • $13,815Salaries and employee benefits
  • $3,802Premises and equipment expense
  • $6,535Additional noninterest expense
  • $21,970Pre-tax net operating income
  • $5Securities gains (losses)
  • $7,093Applicable income taxes
  • $14,882Income before extraordinary items
  • -$435Extraordinary gains - net
  • $14,447Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $1,266Sale, conversion, retirement of capital stock, net
  • $11,360Net operating income

Performance and Condition Ratios (December 31, 1999)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.24%Yield on earning assets
  • 3.70%Cost of funding earning assets
  • 3.54%Net interest margin
  • 0.97%Noninterest income to earning assets
  • 2.36%Noninterest expense to earning assets
  • 1.37%Net operating income to assets
  • 1.33%Return on assets (ROA)
  • 1.99%Pretax return on assets
  • 15.82%Return on equity (ROE)
  • 3.38%Retained earnings to average equity (YTD only)
  • 0.18%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • 17.35%Efficiency ratio
  • 52,068Assets per employee
  • 4.66%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 78.63%Loss allowance to loans
  • 1.47%Loss allowance to noncurrent loans
  • 553.97%Noncurrent assets plus other real estate owned to assets
  • 0.20%Noncurrent loans to loans
  • 0.26%Net loans and leases to deposits
  • 114.98%Net loans and leases to core deposits
  • 125.15%Equity capital to assets
  • 8.32%Core capital (leverage) ratio
  • 8.69%Tier 1 risk-based capital ratio
  • 13.98%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $1,083,157Average earning assets
  • $91,327Average equity
  • $1,022,865Average loans

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